Overview of Trading Signals for MetaTrader 4 and MetaTrader 5

What is MetaTrader?

MetaTrader is an independent trading platform created by MetaQuotes back in 2002. MetaTrader is one of the very first truly programmable trading platforms that comes with its own programming language. One can trade forex, options and futures with MetaTrader software.

MetaTrader 4 and MetaTrader 5 are the two versions of this software, MetaTrader 5 being the latest one in the market. This software works on MQL5’s Trading Signals service which allows traders to copy trading operations of a Signals Provider on a real time basis.

How does this service work?

Traders need only three things to subscribe to a Trading Signal:

1.  An MQL5.com account.
2. Select the broker name which will display based on the first few characters entered of the broker name.
3. Enter the account number on broker’s server.

Trading Signal providers need to provide more amount of information than the traders to protect trader’s interests. Signal Providers must also pass a one-month probation period to safeguard the interests of subscribers.

Once these formalities are completed, the signal can be transferred to the trader by provider and these chains of activities take place usually:

1. On the Provider’s side, a trader or an Expert Advisor performs trading operations in his/her own terminal.
2. This information is sent to the broker’s trading server where the Signals Provider is served.
3. MetaTrader Signal Server connects to the Provider’s broker using specified Investor password and receives all trading operations in real time.
4. The Subscriber’s terminal is constantly connected to the necessary MetaTrader Signal Server. Therefore, it receives all trading operations instantly.
5. The Subscriber’s terminal performs a trading operation on its broker’s server.

Advantages of trading signals for MetaTrader 4 and MetaTrader 5

1. Subscriber centric – Designed with subscriber security in mind.
2. Buying and Selling of trading signals is quick and simple.
3. Secure payment system consisting of multiple payment options.
4. View complete trading history.
5. Subscribers are only charged a nominal fee for subscription. This is refundable if subscriber does not agree with signals provider’s terms. No commission is charged by Signals Providers on trading volumes.
6. No paperwork and complex discussion rounds with brokers & signals providers are required.
7. Subscribers need not worry about their privacy and security since no personal data is collected and stored on MQL5’s servers – same applies for Signals Providers, they cannot know any personal details of the subscriber.
8. Ability to choose any broker listed with MetaTrader.
9. All transactions are encrypted with unique digital signatures. Frauds and manipulations are a thing of the past now!

How to become a provider of signals for MetaTrader 4 and MetaTrader 5?

Becoming a signals provider for MetaTrader 4 and MetaTrader 5 users is pretty easy. Below are the quick steps one needs to perform to become a signals provider:

1. Register on MQL5.com website and then register as a Seller under your profile’s Seller tab by filling out the registration form.
2. Once all the information is filled out click on “Register” button to register as a seller. The registration will not be complete unless you receive an SMS, click on “Send SMS” button to receive the SMS code. Enter the code received through SMS in the verification box and click on “Confirm”. Your application will now be processed by a MQL5 moderator.
3. Once approved, you will receive an SMS confirming your approval.
4. Click on “Signals” tab in your profile to create trading signals.
5. Fill in the form specifying basic information about the new signal in the window (signal and broker names, subscription fee, your trading account’s login and investor password).

Post these steps, your signal must clear a one-month probation period enforced by MQL5 to keep subscribers security in mind. Complete it successfully by performing at least 5 trades within a specified period without your trading account’s drawdown exceeding 70%. If your signal complies with these conditions within the probation period, it will become available for subscription to MetaTrader 4 and MetaTrader 5 users.